SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File No: 333-72404
(Check one)
|X| Form 10-K and Form 10-KSB |_| Form 11-K
|_| Form 20-F |_| Form 10-Q and Form 10-QSB |_| Form N-SAR
For period ended December 31, 2002
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|_| Transition Report on Form 10-K and Form 10-KSB
|_| Transition Report on Form 20-F
|_| Transition Report on Form 11-K
|_| Transition Report on Form 10-Q and Form 10-QSB
|_| Transition Report on Form N-SAR
For the transition period ended
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Read Attached Instruction Sheet Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the item(s) to which the notification relates:
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PART I
REGISTRATION INFORMATION
Full name of registrant Gen-Net Lease Income Trust, Inc.
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Former name if applicable
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Address of principal executive office (Street and number) 24801 West River
Road, First Floor ----------------
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City, state and zip code Grosse Ile, Michigan 48138
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PART II
RULE 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate.)
(a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
(b) The subject annual report, semi-annual report, transition report
on form 10-K, 10-KSB, 20-F, 11-K or Form N-SAR, or portion
thereof will be filed on or
|X| before the 15th calendar day following the prescribed due date;
or the subject quarterly report or transition report on Form
10-Q, 10-QSB, or portion thereof will be filed on or before the
fifth calendar day following the prescribed due date; and
(c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III
NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 10-KSB, 11-K,
20-F, 10-Q, 10-QSB, N-SAR or the transition report portion thereof could not be
filed within the prescribed time period. (Attach extra sheets if needed).
The registrant is unable to file Form 10-K because its auditors have not
received certain information required from a third party to complete their audit
of the registrant for the year ended December 31, 2002. Specifically, certain
required information on a property acquired by the registrant on December 26,
2002, had to be obtained from the seller. Both the registrant and its auditors
requested the information from the seller on numerous occasions, but the
information was not provided until March 28, 2003, as it
had to be retrieved from a New Hampshire storage facility. Attached as Exhibit
"A" is the statement of registrant's auditors required by Rule 12b-25(c).
Finally, registrant would bear an unreasonable burden and expense if it
attempted to make two filings of Form 10-K. Accordingly, registrant will file
its entire Form 10-K in one filing.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
John D. Ellsworth or Michael C. Pallesen (402) 344-4000
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(Name) (Area Code) (Telephone number)
(2) Have all other periodic reports required under Section 13 or 15(d) or
the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s).
|X|Yes |_| No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
|_|Yes |X| No
If so: attach an explanation of the anticipated change, both narratively
and quantatatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
Gen-Net Lease Income Trust, Inc.
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(Name of Registrant as Specified in Charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date March 31, 2003 By /s/ Jerry D. Bringard
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Jerry D. Bringard, President and Chairman of the
Board of Directors
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